Correct Answer:
B. Up to 3 years jail and 50% fine of value of hoarded goods
The Act imposes stringent penalties for hoarding to deter such activities. The punishment for hoarding is severe, including up to 3 years jail and a 50% fine of the value of the hoarded goods. This dual punishment aims to both penalize offenders and recover illicit gains, reinforcing the seriousness of the offense.
- A) 1 year jail is incorrect as it is less than the maximum prescribed.
- C) Only fine is incorrect because the Act mandates both imprisonment and a fine.
- D) Lifetime imprisonment is incorrect; this is an excessive penalty not stipulated by the Act for hoarding.